In terms of volume, 13.66 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.MUMBAI: Shares of Idea Cellular plunged 7.5 per cent today after the company's September quarter earnings failed to cheer investors.

After falling 8.97 per cent to Rs 149.80 in intra-day trade at BSE, shares of the company finally ended at Rs 140.45, down 7.35 per cent from previous close.

The company, however, witnessed a decline in voice usage and pressure on mobile data.

Idea, part of the Aditya Birla group, had reported a net profit of Rs 755.88 crore for the second quarter last fiscal.

Total revenue rose to Rs 8,689.06 crore for the reported period as against Rs 7,569.92 crore a year ago, Idea had said in a statement.

It said voice minutes usage declined to 189.5 billion for the quarter under review compared with 195.8 billion in the preceding three months (April-June of 2015-16).

On a sequential basis, Idea's net profit declined to Rs 809.3 crore in the reported period from Rs 930.8 crore the previous quarter while total revenue was down to Rs 8,689.1 crore from Rs 8,798.3 crore.

Sponsored Stories

Subscribe to our Newsletters

After PSU banks, the government is likely to infuse capital in two chronically ill telecom PSUs BSNL and MTNL, and the Union Cabinet is likely to take a decision on 4G spectrum allocation to them by the third week of the current month after DoT places the note before it for consideration.

At a high-level meeting at the PMO late Tuesday, it was also decided that the two telcos will frame a Voluntary Retirement Scheme (VRS) to reduce their employee strength, which will be followed by a reduction in the retirement age to 58.